If you own or operate a small business, then you probably wonder how you can make sure you get the right insurance policy for the size of your company. Many small business owners miss out on the benefits of Florida liability insurance due to common misconceptions. Here are a few you should be aware of.
One of the most common misconceptions is that a business is too small to reap the benefits of a general liability insurance policy. Unfortunately, the size of your business has no connection to the possibility of being involved in a lawsuit. Any company can be sued. Liability insurance can protect you in the event that someone claims your company caused harm or damage.
Another common myth is that general liability insurance will cover your entire bill. It is important to know the extent of what your coverage includes. For instance, you could end up having to pay out of pocket if the overall cost of damage is more than what your insurance covers.
A final misconception is that certain types of companies don’t need liability insurance. Not all coverage plans are the same. A general liability insurance policy can be customized to meet the unique risks your company faces.
These are just a few misconceptions some small business owners believe in regards to Florida liability insurance. In the end, it is important to do what is best for your business.